More crime, higher costs
Car insurance has become on average 7.9 percent more expensive this year, or 60 euros per year. The increase is even greater for third party insurance, reports autoverzekering.nl.
The end of the year always brings nice insights, although in this case ‘interesting’ is more appropriate than ‘fun’. Research by autoverzekering.nl shows that car insurance has become considerably more expensive between January and December 2023. Car owners now spend an average of 849.96 per year on car insurance, or almost 71 euros in premium per month. In 2022, this was still 744 euros per year and 62 per month. The reason is obvious: inflation. Everything is becoming more expensive, including the personnel and parts needed to repair cars after damage.
However, that is not the only reason for the premium increase. The researchers report that there was simply more damage caused in 2022, which is now being passed on to premium payers with a delay. Moreover, there was again more vehicle crime this year, and the increase in the number of burglaries and thefts also means that car insurers have to pay out more.
The increase in the insurance premium is not the same for every type of car insurance. For example, all-risk insurance increased by an average of 7.5 percent, but third party liability insurance would become ‘only’ 5.9 percent more expensive in 2023. The most affordable third party insurance policies rose the fastest: an average of 9.8 percent. That was also the case before.
Want to know why repairing car damage is so expensive? We will discuss this in detail in AutoWeek 51!
– Thanks for information from Autoweek.nl